Naira weakens against dollar at parallel market

The naira on Monday depreciated by 0.8 percent to exchange at N265 to the dollar at the parallel market. The greenback lost N2 to the dollar from its weekend value of N263. However, at the official interbank window, the naira exchanged at N197 to the dollar. Traders at the market were hopeful that the naira would rebound in 2016 if the apex bank continued More...

| Published 2 years ago
By hallmarknews On Thursday, December 31st, 2015

Nigeria’s foreign reserves drop to $29.13bn

The Central Bank of Nigeria (CBN) on Friday said that the nation’s foreign exchange reserves declined to $29.13 billion as at December 29. The bank said on its website that the drop represented 2.43 percent from More...

By hallmarknews On Tuesday, December 22nd, 2015

ETI announces Charles Kié MD designate Ecobank Nigeria

The board of directors of Ecobank Nigeria has announced the appointment of Mr. Charles Kie as the new Managing Director designate of Ecobank Nigeria Limited effective January 1, 2016 subject to the approval of the More...

By hallmarknews On Monday, December 14th, 2015

Gloomy times ahead as forex challenge persists

Continuing difficulties by manufacturers and other importers in accessing foreign exchange or at least the statutory form ‘M’ cover for imports is setting the stage for a quite gloomy 2016, Business Hallmark More...

By hallmarknews On Monday, December 7th, 2015

Banks’ profitability outlook to improve over MPC decisions

At the Central Bank of Nigeria’s last Monetary Policy Committee meeting of Tuesday, November 24, 2015, the apex bank reduced its Monetary Policy Rate (MPR) moving it down from 13 percent to 11 percent. It also More...

By hallmarknews On Thursday, December 3rd, 2015

DMO to sell N50bn worth of bonds on December 9

The Debt Management Office (DMO) says it will raise N50 billion worth of bonds in two categories on December 9. The DMO disclosed this in its ‘bond circular’ posted on its website on Thursday. According More...

By hallmarknews On Wednesday, December 2nd, 2015

First Bank: Market expectant as new leadership prepares to take over

First Bank: Market expectant as new leadership prepares to take over   The nation’s financial market is at the moment caught in a waiting mode as a new leadership prepares to take over the helm of affairs in More...

By hallmarknews On Tuesday, December 1st, 2015

Despite rate cut, credit squeeze persists

Days after the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its recent review of the state of the economy and outlining of fresh policy adjustments, including much desired rate More...

By hallmarknews On Wednesday, November 25th, 2015

Zamfara sells N7bn bond at 17%

Zamfara State has issued a seven-year bond at a fixed rate of 17 percent to raise N7 billion ($35 million) for infrastructure projects, the lead issuing house FBN Capital said on Wednesday. The North Western Nigerian More...